Assessment and Taxation

There are different approaches to determining market value depending on the type of property being assessed. SAMA uses three different approaches for Commercial/Industrial, Residential and Multi-Unit Residential properties in the City of Yorkton.

How Property Assessment Works in Saskatchewan

2025 is a revaluation year. You received your new assessment notice by mail on January 27, 2025 which reflected the new assessed value of your property as of January 1, 2023. 

A base date is established to determine a property’s value as of that date. The Province of Saskatchewan requires us to conduct a revaluation of all properties every four years. The base date is January 1, 2023 and will be in place from 2025 until the end of 2028. In the case of commercial and residential properties, unless there are:

• permit changes to your property for upgrades, additions, demolition, etc.; or
• a sales inspection or reinspection that shows upgrades, additions or deterioration,

your property valuation will stay the same in this timeframe. 

There are three factors that go into property tax rates:

(Assessed value) x (% of value) x (Mill Rate) = Property Taxes

• SAMA (appraisers) determine the assessed value of the property
• The Provincial Government establishes the % of Value (assessed value X % of value = taxable assessment)
• City Council determines the mill rate based on budget needs 

• Appraisers do not set tax rates.
• Appraisers do not chase tax dollars.
• An Appraiser is interested in fairly determining property values.
• Appraisers affect only one of the property tax variables: the value
• Appraisers determine how much a typical property type will sell for on the open market
• Appraisers maintain a thorough database of real estate information to make this process as precise as possible.
• Appraisers chase fairness and equity.